What should I do with it? I need suggestions. This will be my first time making any investments. Is it a good idea to start off with amount? I haven't the slightest bit what investment I should make except to buy up some gold.
I have 10k I Want To Invest
- Thread starter Mello Mello
- Start date
Mello Mello said:
Be prepared to lose all your money is the first rule. Ok after you can live with that thought then you can invest. Other wise put it in a CD.
Open a brokerage account and put the money in there. And study.
I think a good sector to be in now is oil. A relatively safe oil play is VLO oil refinery. With this tension in the middle east and the coming driving season. It is primed to run. You can buy a some.
T - ATT is going to be a play on whatever is going on with these new telephones. They have the backbone for the traffic.
Watch CNBC, CNBCW and Bloomberg. Watch Jim Cramer's Mad Money and buy nothing just learn. The whole idea is to get a feel for the markets. Paper trade.
Don't touch options unless you are prepared to lose all your money in 1 day, 1 month or somewhere within a few months
Mello Mello, I'ma go 'head and shoot ya straight. My brotha', my friend my fellow investor. I suggest going to everbank.com OR locating a money fund with a mutual fund company and PARK your ten stacks. I repeat, park your 10 stacks! You must.
That way, you don't lose money to the immediate erosion of inflation and you did not put it in the market for the daily fluctuations to make you sh!t your pants every 5 minutes. Trust me, I am speaking from experience.
The absolute very first thing you should invest in is INFORMATION. I don't give a damn if it is searching the internet, going to the library or camping out at a Borders/Books-A-Million/Barnes&Nobles, get a book a magazine or a whatever and get some learning. Dude, it is imperative. I am talking what I know and not what I have heard.
You can make some solid decsions reading any of these three books: Automatic Wealth by Michael Masterson, Rich Dad Poor Dad by Robert Kiyosaki and My First Book of Investing. Pick any of these three in any order and you have a foundation.
Once you have done that, hit me back and let me know if you want a second installment of "suggestions." I am living the advice now that I am giving you that I f*cked up in my own life the first time.
Build a business, buy real estate THEN, and only then, play in the stock market.
Hope I did not bore you but before I go, Warren Buffet said it best. First rule of money, don't lose it. Second rule of money, don't forget rule number one. He is so, so right. If you need to pm me for more specific information, don't even hesitate.
That way, you don't lose money to the immediate erosion of inflation and you did not put it in the market for the daily fluctuations to make you sh!t your pants every 5 minutes. Trust me, I am speaking from experience.
The absolute very first thing you should invest in is INFORMATION. I don't give a damn if it is searching the internet, going to the library or camping out at a Borders/Books-A-Million/Barnes&Nobles, get a book a magazine or a whatever and get some learning. Dude, it is imperative. I am talking what I know and not what I have heard.
You can make some solid decsions reading any of these three books: Automatic Wealth by Michael Masterson, Rich Dad Poor Dad by Robert Kiyosaki and My First Book of Investing. Pick any of these three in any order and you have a foundation.
Once you have done that, hit me back and let me know if you want a second installment of "suggestions." I am living the advice now that I am giving you that I f*cked up in my own life the first time.
Build a business, buy real estate THEN, and only then, play in the stock market. Hope I did not bore you but before I go, Warren Buffet said it best. First rule of money, don't lose it. Second rule of money, don't forget rule number one. He is so, so right. If you need to pm me for more specific information, don't even hesitate.
Last edited:
Jakesnake said:
What can a FEE only Financial Planner offer opposed to others? Also do you know of any good firms out here on the West coast preferably Northern California that may be good for me to check out.
kjxxxx said:
What type of fees are involved with opening a brokerage account? Also what are the best brokers to open with?
I watch a few of those shows. Mad Money; that dude is crazy but I don't know how serious I can take the guy. I like him because he seems to know his stuff and is able to explain it on a basic level that is understandable. I have a lot of studying a head of me. I'm really not ready to loose a lot of money but I'm ready to loose a little.
SlimJones said:Mello Mello, I'ma go 'head and shoot ya straight. My brotha', my friend my fellow investor. I suggest going to everbank.com OR locating a money fund with a mutual fund company and PARK your ten stacks. I repeat, park your 10 stacks! You must.
That way, you don't lose money to the immediate erosion of inflation and you did not put it in the market for the daily fluctuations to make you sh!t your pants every 5 minutes. Trust me, I am speaking from experience.
The absolute very first thing you should invest in is INFORMATION. I don't give a damn if it is searching the internet, going to the library or camping out at a Borders/Books-A-Million/Barnes&Nobles, get a book a magazine or a whatever and get some learning. Dude, it is imperative. I am talking what I know and not what I have heard.
You can make some solid decsions reading any of these three books: Automatic Wealth by Michael Masterson, Rich Dad Poor Dad by Robert Kiyosaki and My First Book of Investing. Pick any of these three in any order and you have a foundation.
Once you have done that, hit me back and let me know if you want a second installment of "suggestions." I am living the advice now that I am giving you that I f*cked up in my own life the first time.
Hope I did not bore you but before I go, Warren Buffet said it best. Firt rule of money, don't lose it. Second rule of money, don't forget rule number one. He is so, so right. If you need to pm me for more specific information, don't even hesitate.
Thank you for your incite and suggestions. It's what I need.
You got me peg about camping at Barnes&Nobles. I've read Rich Dad Poor Dad back in the day but I just started digging into "The Essays of Warren E. Buffett: Lessons for Corporate America". That W.B Quote definitely sticks. That is the reason I came here to get some advice from brothas who have been through the process. Mutual Funds were my first idea although safe investment. I thought the return on them was too slow.
M
MistahLeg
Guest
Go to www.vmdirect.com/jasonsfadlan
click on the american flag and select business overvies then e-mail me
jasonsfadlan@vmdirect.com
click on the american flag and select business overvies then e-mail me
jasonsfadlan@vmdirect.com
SlimJones said:Mello Mello, I'ma go 'head and shoot ya straight. My brotha', my friend my fellow investor. I suggest going to everbank.com OR locating a money fund with a mutual fund company and PARK your ten stacks. I repeat, park your 10 stacks! You must.
That way, you don't lose money to the immediate erosion of inflation and you did not put it in the market for the daily fluctuations to make you sh!t your pants every 5 minutes. Trust me, I am speaking from experience.
The absolute very first thing you should invest in is INFORMATION. I don't give a damn if it is searching the internet, going to the library or camping out at a Borders/Books-A-Million/Barnes&Nobles, get a book a magazine or a whatever and get some learning. Dude, it is imperative. I am talking what I know and not what I have heard.
You can make some solid decsions reading any of these three books: Automatic Wealth by Michael Masterson, Rich Dad Poor Dad by Robert Kiyosaki and My First Book of Investing. Pick any of these three in any order and you have a foundation.
Once you have done that, hit me back and let me know if you want a second installment of "suggestions." I am living the advice now that I am giving you that I f*cked up in my own life the first time.
Hope I did not bore you but before I go, Warren Buffet said it best. Firt rule of money, don't lose it. Second rule of money, don't forget rule number one. He is so, so right. If you need to pm me for more specific information, don't even hesitate.
Pretty good info.
I suggest buying an Index Fund. Use 3k of your money to do it. Definitely take his advice about going to barnes and noble. I use to go there all the time. Now I'm a permanent fixture at the library. I swear that's the greatest place in the world. Need more advice? Holla at me.
i had about 10K earlier this year... used mine to help cop a house though
Joerock4022 said:
You did well son. Now every month you are making an investment
in your future instead of shitting out money for rent. Feels good
doesn't it?
acm21
Banned
You are on the right track but don't discount people like Warren Buffet or Jim Cramer. Jim Cramer used to run a successful hedge fund but now he gives advice to younger people. Warren Buffet is worth over $30B for a reason. He's one of the best investor of all time. Someone mentioned to watch CNBC and also check out "Suze Orman" and the "Fast Money Guys." She's not that risky though but she gives alot of advice (She comes on Saturday's on CNBC at 8pm central time and the "Fast Money Guys" come on weekdays 7pm central time).
I can tell you this though she don't really care for financial advisors b/c some work off commission and some work off the entire amount you invest. They have a bad reputation for putting people in investments they don't need b/c they get compensated for it. Regardless a good financial advisor should be registered i.e. (series 7, 63, 65, 66, certified financial planner-CFP, etc) or something.
Also until you decide to do something you can put the money in a money market account to earn interest (they are almost like a checking account). They usually have a min such as $2500 or you will be charged a fee if it drops below it. Some were returning 5% which isn't alot but that's $500/yr and they're basically risk-free. If you put your money in a CD or IRA and you try to take it out to early they will charge you fees. Right now Capital one online is offering 5% APY.
I can tell you this though she don't really care for financial advisors b/c some work off commission and some work off the entire amount you invest. They have a bad reputation for putting people in investments they don't need b/c they get compensated for it. Regardless a good financial advisor should be registered i.e. (series 7, 63, 65, 66, certified financial planner-CFP, etc) or something.
Also until you decide to do something you can put the money in a money market account to earn interest (they are almost like a checking account). They usually have a min such as $2500 or you will be charged a fee if it drops below it. Some were returning 5% which isn't alot but that's $500/yr and they're basically risk-free. If you put your money in a CD or IRA and you try to take it out to early they will charge you fees. Right now Capital one online is offering 5% APY.
The first thing I would do is stop telling everyone how much money you have and that you don’t know!Mello Mello said:
If you tell everyone that you have money to invest and don’t know, there will be plenty of people telling you what to do with your money and it will be removing it from your hands to theirs.
Before you write the check to anyone, ask questions like what is my return, is there a fee, how long, taxation, what do you have your money in?
Everyone here knows that the game I’m in is Real Estate and it is the only one I will do at this time. It gives me the best return on my investment money. It gives me the best tax write off’s and it builds the greatest wealth that has been recession proof out of all of the games I have done in the past.
Stay Up Bruh!
Last edited:
I cant say how much you should invest but certainly look into the following into Canroy's and etf's
Canroy's or Canadian investment trust pay you a monthly dividend. some are as high right now as 17%. You can reinvest those dividends and purchase more shares into a basket of canroys to compound your earnings on a monthly basis while insulating yourself from one industry. If you are looking at generating an income off of this money 10 to 20 years from now this really can't be beat. Get more information from http://blog.25cashmachine.com/
the other thing I would recommend is looking into etf's or exchange traded funds. dont have much time to explain but do a search for there are some great ones out there that return a huge percentage year over year
both of these have very little volatility
Canroy's or Canadian investment trust pay you a monthly
dividend. some are as high right now as 17%. You can reinvest those dividends and purchase more shares into a basket of canroys to compound your earnings on a monthly basis while insulating yourself from one industry. If you are looking at generating an income off of this money 10 to 20 years from now this really can't be beat. Get more information from http://blog.25cashmachine.com/the other thing I would recommend is looking into etf's or exchange traded funds. dont have much time to explain but do a search for there are some great ones out there that return a huge percentage year over year
both of these have very little volatility
I use different accounts because I like different things about them. Right now I have warmed up to ETRADE since the changed there policies and are now very competitive. I like the fact that they have a savings account that pays 5% and you can move money between the brokerage and the savings easily. They are also alowing trading in overseas market which is something I have always been interested in. So right now I would say open the saving account with ETRADE and earn the 5% and paper trade the account till you are comfortable. I like the other fellow suggestion on getting good div paying stocks. And not all dividend paying stocks are equal. Some are shitty. A couple good ones in your account is good. I am starting to become a big fan of diversification. And the most important thing is money management. Take it from me its one of the hardest thing about trading/investing.
Mello Mello said:What can a FEE only Financial Planner offer opposed to others? Also do you know of any good firms out here on the West coast preferably Northern California that may be good for me to check out.
What type of fees are involved with opening a brokerage account? Also what are the best brokers to open with?
Lick said:The first thing I would do is stop telling everyone how much money you have and that you don’t know!
If you tell everyone that you have money to invest and don’t know, there will be plenty of people telling you what to do with your money and it will be removing it from your hands to theirs.
Before you write the check to anyone, ask questions like what is my return, is there a fee, how long, taxation, what do you have your money in?
Everyone here knows that the game I’m in is Real Estate and it is the only one I will do at this time. It gives me the best return on my investment money. It gives me the best tax write off’s and it builds the greatest wealth that has been recession proof out of all of the games I have done in the past.
Stay Up Bruh!
I hear you. But I don't mind because I wanted to hear a variety of suggestions.kjxxxx said:
Thanks for the tips guys keep 'em coming.
I still say you fucked up you call about IRA's in the other thread but still....... how the FUCK did you in 2014 pick the one single oil stock that didnt crash with the energy commodities market? I fuck with people here now and then but I aint fuckin with you anymore! Wish you were still around so I could leech off you.
invest in yourself. there's nothing you've ever wanted to start up or do?
Similar threads
